Myanmar Financial News

Myanmar's military government has officially acknowledged the withdrawal of its forces from a key city on the northeastern border with China, on January 6. The city, Laukkaing, fell to an alliance of ethnic armed groups after months of conflict, marking a significant defeat for the military government. The fall of Laukkaing, the capital of the Kokang Self-Administered Zone, is part of a series of setbacks for the military since the ethnic alliance initiated an offensive on October 27, according to a report by the Associated Press.

Free Movement Regime (FMR) and install a border fence along the Indo Myanmar border, thereby dividing the Zofate (Zo people) residing in India and Myanmar. The body added that this proposed action would necessitate passports and visas for their interactions and contacts. ZORO urged the Government of India to reconsider its decision to terminate the connections of Zo people living in the international border areas of India and Myanmar. “It is crucial to note that the Government of India is a signatory to the United Nations Declaration on the Rights of Indigenous Peoples 2007 (UNDRIP).

Meetei Council Moreh has urged the Prime Minister of India Narendra Modi to settle and rehabilitate all the people driven out of Moreh since 1991. On January 2, seven security personnels were injured in an attack by suspected militants at bordering Moreh in Tengnoupal district. Moreh is just 4 km to the west of Myanmar’s largest border town Tamu.

military government has acknowledged that it withdrew its forces from a key city on the northeastern border with China after it was taken over by an alliance of ethnic armed groups it has been battling for months. The Three Brotherhood Alliance took control of Laukkaing late Thursday after Myanmar military forces laid down their arms and were allowed to withdraw, both sides said on Saturday. Photos and videos on social media showed a vast amount of weapons that the alliance claimed to have captured.

online scam operations in another blow to the embattled junta. The military is facing its biggest threat since seizing power in a 2021 coup after three armed ethnic groups — known as the Three Brotherhood Alliance — launched a sweeping October offensive in northern Shan state. Since November people have been fleeing Laukkai town, located in a district bordering China that is run by a Myanmar military-aligned militia and notorious for gambling, prostitution and online scams run out of compounds staffed by thousands of people, many trafficked. The alliance — made up of the Myanmar National Democratic Alliance Army (MNDAA), the Arakan Army (AA) and the Ta'ang National Liberation Army (TNLA) — said the town was now under their control. «All members from the Myanmar Army's Military Operational Command in Laukkai were disarmed and Laukkai became a clean area where there are no more members of the Myanmar Army,» the alliance said in a statement. It added that scores of junta soldiers, including some officers, had been captured and disarmed. The junta has not commented. TNLA Brigadier-General Tar Bhone Kyaw confirmed Saturday that the MNDAA had taken Laukkai. «It is their land, they got it back now,» he told AFP.

Traders are looking to import maize from Myanmar after the government last month put curbs on use of sugarcane for ethanol production and said it would switch to maize to meet its fuel blending target. «The country will have to rely on imports if it wants to achieve its blending target, as there is not enough maize in the domestic market,» said a trader who is in talks with Myanmar for its import. If India starts using maize for ethanol production, the requirement will be extremely high and will push prices up in the domestic market.

The elections in Bangladesh are all about one person: Prime Minister Sheikh Hasina

Lalduhoma met Prime Minister Narendra Modi and External Affairs Minister S Jaishankar to apprise them of the concerns of the Mizos and the issue of Myanmarese refugees, especially with the present proposal by India to fence the border with Myanmar. He also pushed for a Greater Mizoram as part of Akhand Bharat. During his first official visit after taking over as chief minister after winning the assembly polls on December last year, the Mizoram CM apprised the PM that the current border with Myanmar was forced upon the two ethnic groups without their prior consent.

Myanmar is all set to launch its first fully crypto-based banking institution, the Spring Development Bank, on July 22. 

Two months ago, Abdul (name changed) made the decision to leave India in search of a better life, just like millions of other Indians who do the same thing every year. Armed with a college degree, Abdul, who hails from Telangana, had tried his hand at a few jobs in India but found that the income was never enough.

Myanmar’s shadow National Unity Government (NUG), in an unprecedented economic move, announced the recognition of stablecoin Tether (USDT) as its official currency.

Myanmar’s shadow government has recognized tether (USDT) as its official currency - with plans to use the stablecoin to collect funds for a campaign against the country’s military junta.